As demand for private jet flying declines, NetJets is rolling back the blackout dates it originally imposed in June 2021
NetJets is reducing the number of blackout dates on its 25-hour lease program as demand for private jet flying continues on a downward slope. Argus TraqPak predicts a 3.3% decline in 2023 U.S. fractional flight hours.
According to an email reviewed by Private Jet Card Comparisons, “NetJets 25-hour Lease has been further enhanced to give you immediate access to the world’s finest fleet with 355 travel days annually (increased from 320).”
The reduction in blackout dates was made in an email newsletter from a partner of the private jet company, so it’s not clear if the reduction in peak days is limited to the partner’s clients or part of a broader change.
Private jet companies have strategic partnerships with other luxury lifestyle companies, and sometimes offers are limited to partners of clients, although that typically entails discounts, credits, or upgrades instead of different rule sets.
(Updated March 22 @11:07am EST) We were able to confirm the 25-hour leases now have just 10 blackout dates, 35 blackout dates are now peak days at a surcharge, and the previous 45 peak days remain at no surcharge. The change is also retroactive to existing customers. Additionally, jet cards are now available to anyone. They had previously been restricted to current and former customers.
The unit of Berkshire Hathaway originally turned peak days into blackout dates for its jet card program in June 2021.
It then stopped sales of its jet card program, including renewals, in August 2021.
When it introduced 25-hour leases in March 2022 as a jet card replacement, they came with 45 blackout dates and an additional 45 peak days.
The peak days don’t have a surcharge, but NetJets can accelerate or delay departures by +/- 3 hours.
NetJets 2023 Peak Days, Blackout Days, and Callouts
|Product||Peak Days||Black Out Days||Non-Peak Callout|
|25-hour jet card||45||45||48 hours|
|25-hour lease||80||10||24 hours|
|50 hours + shares and leases||10||0||6-to-10 hours|
Its 25-hour leases run three-to-five years and are only available on select aircraft types.
NetJets restarted its jet card sales last October but restricted sales to current and former customers.
The relaunched cards carry a 48-hour non-peak callout in addition to the 45 blackout dates and 45 peak days.
25-hour leases have a 24-hour callout.
Last year, NetJets added over 70 new aircraft.
It plans to add over 100 more private jets this year.
By the end of the year, it expects to have over 200 Citation Latitudes worldwide and over 65 Bombardier Globals.
Last year, it saw North American flight hours, including Executive Jet Management, increase by 9.6%.
Before the Covid surge
Before the surge, it offered two card types. Elite had a 24-hour callout with 45 peak days with a surcharge. The more expensive Classic jet card had a 10-hour callout and 30 peak days.
Fractional owners and leases starting at 50 hours only have 10 peak days with callouts as low as six hours.
Prior to the pandemic, NetJets said about 20% of its flying was for jet card customers.
That inferred about 80,000 jet card hours in North America based on 2019 numbers.
Divided by 25-hour increments, that would be around 3,200 units, although that may include buyers of multiple cards and fractional owners who bought cards for supplemental lift, so not necessarily individuals.